Littlejohn Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, Littlejohn has acquired 8 companies. It has also invested in 2 others.

Littlejohn’s most common sectors for investment aredistribution (10%) and consumer products (9%) . The Firm’s most common investment types include secondary buyout (42%) and buyout (lbo, mbo, mbi) (27%). In total, Littlejohn has invested in 24 US states and 4 different countries. Its largest (disclosed) acquisition occurred in 2019 when it acquired Kaman Industrial Technologies for $700M.

In the last 3 years, Littlejohn has exited 5 companies. The Firm’s most common exit type is trade sale (44%). Littlejohn’s largest (disclosed) exit occurred in 2021 when it sold Interior Logic Group for $1.6B.

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M&A Summary

  • M&A Total Activity99
    • M&A Buy Activity60
    • M&A Sell Activity39
  • Total Sectors Invested 27
  • Total Countries Invested 4
  • M&A Buy/Sell Connections 33
  • M&A Advisors 16

Littlejohn & Co.

8 Sound Shore Drive, Suite 303,
Greenwich, Connecticut 06830
United States
(203) 552-3500
www.littlejohnllc.com
info@littlejohnllc.com

Littlejohn & Co. is a private equity firm that makes control investments in mid-sized companies undergoing change; either in capital structure, strategy, operations, or growth. Littlejohn looks to commit $50 to $150 million of equity capital in companies with annual revenues of $100 to $800 million. Sectors of interest include industrial equipment, packaging, chemicals, automotive and transportation parts and equipment, food and food processing, healthcare, plastics, aerospace/defense, distribution, environmental and infrastructure services, and consumer products. The Firm avoids investing in real estate, fashion, retail, and businesses engaged in high technology. Littlejohn prefers opportunities located in the US, but also considers opportunities in Europe and Canada. Littlejohn & Co. was formed in 1996 and is based in Greenwich, Connecticut.


Investment Criteria

Sectors of Interest: Aerospace, Apparel/Textiles, Automotive, Beverages, Building Materials, Business Services, Chemicals, Consumer Products, Defense, Distribution, Electrical Equipment, Engineering, Environmental, Food, Forest Products, Healthcare Services, Information Technology, Internet Software and Services, Machinery, Manufacturing, Marine, Metals/Mining, Packaging, Plastics, Renewable Energy, Retail, Technology Hardware, Transportation

Target Transaction Types: Buyout (LBO, MBO, MBI), Divestiture, Growth Capital, Recapitalization, Special Situations/Distressed, Secondary Buyout, Stake Purchase

Geographic Preferences: East US, Midwest US, South US, West US, Canada

Transaction Criteria Min Max
Target Revenue 100 800
Target EBITDA - -
Investment Size 50 250
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '17 '18 '19 '20 '21 '22 T
Buy (2.6/yr) # 47 3 3 - 2 5 60
vol $640M $700M $1.3B
Sell (1.6/yr) # 31 3 1 1 3 - 39
vol $2.8B $4.2B $7.0B
  99

Most Recent M&A

Company Date Value Type
Lipari Foods LLC 2022-10-31 - Secondary Buyout
Warren, Michigan · www.liparifoods.com
The Hiller Companies, Inc. 2022-09-20 - Growth Capital
Mobile, Alabama · www.hillercompanies.com
Great Day Improvements LLC 2022-01-31 - Growth Capital
Macedonia, Ohio · www.greatdayimprovements.com
Alto Healthcare Staffing 2022-01-10 - Buyout (LBO, MBO, MBI)
Dayton, Ohio · www.altostaffing.com
Magnate Worldwide 2022-01-03 - Secondary Buyout
Portland, Oregon · www.magnateworldwide.com
Kaman Industrial Technologies Corp. 2021-12-16 1.3B USD Add-on Acquisition
Bloomfield, Connecticut · ec.kamandirect.com
American Health Staffing Group LLC 2021-11-22 - Secondary Buyout
Edmond, Oklahoma · www.theahsg.com
Pritchard Industries, Inc. 2021-10-14 - Buyout (LBO, MBO, MBI)
New York, New York · www.pritchardindustries.com
HydroChemPSC 2021-08-04 1.3B USD Add-on Acquisition
Deer Park, Texas · www.hydrochempsc.com
Interior Logic Group, Inc. 2021-02-01 1.6B USD Secondary Buyout
Irvine, California · www.interiorlogicgroup.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Brown Jordan International, Inc. 2016-12-19 Pride Family Brands, Inc. 2019-06-05 2
St. Augustine, Florida · www.bji.com Hollywood, Florida · www.pridefamilybrands.com
Ntirety, Inc. 2009-06-03 Hostway Corp. 2019-01-08 3
Austin, Texas · www.ntirety.com Chicago, Illinois · www.hostway.com
Ntirety, Inc. 2009-06-03 Stelligent Systems LLC 2018-11-08 1
Austin, Texas · www.ntirety.com Reston, Virginia · www.stelligent.com
Ntirety, Inc. 2009-06-03 Hosting.com (old) 2009-08-31 2
Austin, Texas · www.ntirety.com Denver, Colorado · www.hosting.com

M&A by Sector

Sector Current # Value All-time # Value
Distribution 1 (5%) - 6 (10%) 700M (52%)
Consumer Products 1 (5%) - 5 (8%) 184M (14%)
Automotive - - 4 (7%) -
Building Materials 2 (10%) - 4 (7%) -
Environmental 1 (5%) - 3 (5%) -
Internet Software and Services 1 (5%) - 3 (5%) -
Machinery 1 (5%) - 3 (5%) -
Staffing 3 (14%) - 3 (5%) -
Transportation 1 (5%) - 3 (5%) -
Apparel/Textiles 1 (5%) - 2 (3%) -
Business Services 1 (5%) - 2 (3%) -
Chemicals 1 (5%) - 2 (3%) -
Construction - - 2 (3%) -
Electrical Equipment - - 2 (3%) -
Information Technology 1 (5%) - 2 (3%) -
Safety/Security 2 (10%) - 2 (3%) -
Technology Hardware 1 (5%) - 2 (3%) -
Retail - - 1 (2%) 456M (34%)
Aerospace - - 1 (2%) -
Energy Services and Equipment 1 (5%) - 1 (2%) -
Engineering - - 1 (2%) -
Food - - 1 (2%) -
Forest Products 1 (5%) - 1 (2%) -
Furniture 1 (5%) - 1 (2%) -
Healthcare Services - - 1 (2%) -
Marine - - 1 (2%) -
Metals/Mining - - 1 (2%) -
Total 21 - 60 $1.3B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 21 (100%) - 56 (93%) 884M (66%)
  Texas 5 (24%) - 8 (13%) -
  Ohio 2 (10%) - 6 (10%) -
  Pennsylvania 1 (5%) - 5 (8%) -
  New York 2 (10%) - 4 (7%) 184M (14%)
  North Carolina 2 (10%) - 4 (7%) -
  California - - 4 (7%) -
  Illinois 1 (5%) - 3 (5%) -
  Michigan 1 (5%) - 2 (3%) -
  Massachusetts 1 (5%) - 2 (3%) -
  Oregon 1 (5%) - 2 (3%) -
  New Jersey - - 2 (3%) -
  Georgia - - 2 (3%) -
  Louisiana 1 (5%) - 1 (2%) -
  Florida 1 (5%) - 1 (2%) -
  Alabama 1 (5%) - 1 (2%) -
  Washington 1 (5%) - 1 (2%) -
  Oklahoma 1 (5%) - 1 (2%) -
  Connecticut - - 1 (2%) 700M (52%)
  Mississippi - - 1 (2%) -
  Maryland - - 1 (2%) -
  Idaho - - 1 (2%) -
  Colorado - - 1 (2%) -
  Wisconsin - - 1 (2%) -
  Tennessee - - 1 (2%) -
France - - 2 (3%) -
Canada - - 1 (2%) 456M (34%)
  Quebec - - 1 (2%) 456M (34%)
China - - 1 (2%) -
Domestic 21 (100%) - 56 (93%) 884M (66%)
Cross-border - - 4 (7%) 456M (34%)
Total 21 - 60 $1.3B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Secondary Buyout 13 (62%) - 25 (42%) -
Buyout (LBO, MBO, MBI) 4 (19%) - 16 (27%) -
Recapitalization 2 (10%) - 8 (13%) -
Divestiture - - 4 (7%) 700M (52%)
Going Private - - 2 (3%) 456M (34%)
Special Situations/Distressed - - 2 (3%) 184M (14%)
Growth Capital 2 (10%) - 2 (3%) -
Stake Purchase - - 1 (2%) -
Total 21 - 60 $1.3B

Exits by Deal Type

Type Total # Value
Secondary Sale 14 (36%) 2.5B (35%)
Trade Sale - Public Company 11 (28%) 3.2B (46%)
Trade Sale 8 (21%) 1.3B (19%)
Merger 3 (8%) -
Bankruptcy 2 (5%) -
IPO 1 (3%) -
Total 39 $7.0B

Top M&A Advisors

Financial Deals
Morgan Stanley
3
William Blair & Co. LLC
2
Harris Williams & Co.
2
Legal Deals
Gibson, Dunn & Crutcher LLP
11
Troutman Pepper Hamilton Sanders LLP
4
Morrison Cohen LLP
4

Deal Values

buy # Total
$100M to $1B 3 $1.3B
TOTAL $1.3B
Largest Kaman Industrial Technologies Corp.
$700M (2019-06-26)
sell # Total
> $1B 3 $4.2B
$100M to $1B 7 $2.8B
TOTAL $7.0B
Largest Interior Logic Group, Inc.
$1.6B (2021-02-01)

M&A Connections

Deals
Acquired from
Investor(s)
50%
30 (50%)
Strategic(s)
8%
5 (8%)
Exited to
Investor(s)
33%
13 (33%)
Strategic(s)
49%
19 (49%)

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